Instagram story viewer> @416tax> Posts

Alexander Xavier

@416tax

186

followers

317

following

Accountant & Income Tax Professional – 416tax.com

POSTS STORIES REELS TAGGED

Download All

One of the most frequent questions I get asked is how tax brackets work. The common the belief that moving into a higher tax bracket means you take home less money overall.

Thankfully this isn’t the case. Canada uses a marginal tax rate system, which means the rates are tiered. When your income crosses into a new tax bracket, you only pay the higher percentage on the specific dollars earned above that threshold, not on your entire income.

This infographic gives you the detailed rates at the various income levels. Stop turning down overtime or capping your side-business revenue out of fear of jumping into the next bracket. Understand the math, maximize your income, and use this data to accurately calculate the real value of your RRSP deductions for the upcoming year.
.
.
.
#TaxStrategy #OntarioTax #FinancialLiteracy #TorontoBusiness #MarginalTaxRates #416Tax #WealthBuilding by @416tax

5

0

5 months ago

Who said accountants are boring?
.
.
.
via @canrevagency by @416tax

16

3

5 months ago

by @416tax

9

0

4 years ago

First time baking bread in a while: Sourdough sandwich loaf 🍞 by @416tax

10

3

4 years ago

@rebekahhawker singing with @doghouseorchestra at @the.cameronhouse on June 19, 2020
Amazing show as always!
.
Full video on YT: https://youtu.be/EFQtpLZQzFo taken in The Cameron House by @416tax

5

0

4 years ago

This year's herb garden is off to a nice start. Safe inside from the storm. by @416tax

9

0

4 years ago

Sandwich loaf made with leftover pizza dough from the weekend. Whole wheat sourdough with rosemary. Delish 😋 by @416tax

5

0

4 years ago

First time eating sushi in the restaurant since December 2019. I actually convinced myself during the past two years that Rabba sushi is actually delicious! 😆

FYI: this entire spread was less than $15! by @416tax

4

0

4 years ago

Your tax refund is YOUR money, given back to you from what the government took away. Don't just spend it, invest it wisely...

Pay down your highest interest debt first, then tackle any other smaller debts. Lastly, if your debt is all settled, put it towards your RRSP, TFSA, or other tax-beneficial investment vehicles.

For tips and advise on what to do with your tax refund this year, and how to invest in general, feel free to message me directly. by @416tax

5

0

4 years ago

Doghouse Orchestra @ Cameron House

More videos on YT:
https://www.youtube.com/watch?v=0z2e2P1pIi8&list=PLPiBoRhRFu0Hi7JD08KXjecQGgpFrG69I taken in The Cameron House by @416tax

1

0

4 years ago

Great performance last night at the Drom. A little uneasy at how crowded and unmasked it was, but was nice to get out and see live music again. taken in Drom Taberna by @416tax

1

0

4 years ago

by @416tax

4

0

4 years ago